<p>Sorry I am new to this thread, so this might have been discussed already...</p>
<p>I heard if you are in a family making less than 40,000 a year, you get a full ride, 4yr full scholarships to Harvard/Princeton/Yale upon acceptance. Is that True or False?</p>
<p>... I believe so. I believe Princeton has a new "no-loan" policy, and I believe Harvard and Yale are making plans to follow suit, or have already done so. (I know Princeton, for a fact. Not quite sure about Yale/Harvard).</p>
<p>technically, there can't be a genuine "full ride" in which students have to pay ZERO. There is always a "student contribution" part that is required in every financial aid package. It is based on income and the minimum is $1500. Of course, going to MIT for $1500 is not a bad deal at all. The student contribution is expected and usually, summer earnings can help pay for that.</p>
<p><a href="http://www.piqe.org/Assets/Home/Harvard.htm%5B/url%5D">http://www.piqe.org/Assets/Home/Harvard.htm</a></p>
<p>Ok, so Harvard and Princeton offer those 40k scholarships. However, Yale goes unmentioned. Whenever I say Harvard and Princeton, I always group Yale along with them. :p</p>
<p>Amherst does the same too :p</p>
<p>
[quote]
There is always a "student contribution" part that is required in every financial aid package. It is based on income and the minimum is $1500.
[/quote]
</p>
<p>While that may be true with the Ivies, is is not necessarily true for all colleges. For instance, many state universities offer honors programs. The students get a full, free ride. Two friends of my s were freshmen in honors programs this year at different uni's. Their parents were thrilled. "College for free." Not "college for $1500."</p>
<p>I think it depends on whether you're talking about a need based "full ride" or an academic one.</p>
<p>wait, Allure, Amherst does what? </p>
<p>I'm going to Amherst next year, and I'm flipping out about how to go about paying for it. My family is gonna have to take out at least 15k-20k in loans each year. </p>
<p>what is Amherst doing? are they offering full rides? no-loan policy? ?????</p>
<p>Amherst offers reduced and eliminated loans for low-income students. I got grants, a work study and then after that, I was left covering only about 1100. It's similar to HYP, but I don't think it's guaranteed for "under 40K"... they may have the bar lower. ......</p>
<p>Also, Williams didn't give me any loans, gave me grants and a work study.... then left with under 700 to cover myself (no contribution expected from parents).</p>
<p>Amherst doesn't merely assign you loans on basis of your income. They look at your EFC. </p>
<p>If your EFC is below 3200, no loans.
If your EFC is between 3200 and 11000, you have reduced loans.
If your family can contribute more than 11000, then you will have to take out some loans.</p>
<p>As for how it's similar to HYP... at the opening talk at the open house, they said that Amherst had started this policy six or so years ago, before Harvard even thought up the HFAI.</p>
<p>Harvard + income below 40k = ZERO family contribution (some student contribution)
Yale + income below 45k = ZERO family contribution (some student contribution)
Princeton = no loans (this is no income cutoff)</p>
<p>According to a letter my son received from Harvard, students with total family income of less than $40,000 per year have a zero EFC.</p>